Dec 30, 2020 News
Back in 2018 when Xiaomi listed its stock value publicly, it couldn’t reach the $100 billion mark that they were looking for. Yet, the chinese manufacturer kept its head down and kept working hard till where it is now - finally having crossed the 100 billion dollar mark recently, a great milestone for the company. Who would’ve known that a mere Chinese company under the radar of everyone would make it to the top level of the smartphone game in a few years?
There are several reasons for Xiaomi’s success as a phone maker, and why the Chinese manufacturer has managed to climb to the 3rd spot in the biggest market share in the phone market. Firstly, the exit of Huawei from the market has left a huge void which other manufacturers have pounced upon, and Xiaomi being perhaps the closest alternative to Huawei in terms of offering top level products in cheaper prices was destined to reap the most rewards of the unfortunate decline of Huawei.
Moreover, Xiaomi also sells a large amount of products, and within their lineup of phones, they have a huge variety every year - as they rebrand or just make a lot of different phones. This helps increase their sales and boost their market share in the business - giving them more power in the market.
Nonetheless, we all know that Xiaomi has arrived and is here to stay with all of its great phones which people value a lot due to their value offered compared to the price.